Average Rent In New Jersey For January 2024
Average Rent
What is the average rent in New Jersey?
The average rent in New Jersey for January 2024 is $1,880, according to the most recent data from ApartmentList - January 3, 2024. The average rent of a 2-bedroom apartment in New Jersey is $1,992. The average rent of a 1-bedroom apartment in New Jersey is $1,605.
Compared to the national average of $1,379, New Jersey rent costs 36.3% more. Read our analysis of rents by state to see how New Jersey ranks.
Here's a look at how average rents have changed over time:
How Does New Jersey Rent Compare To The Rest Of The Country?
| Statistic | NJ | USA | % Difference |
|---|---|---|---|
| Average Rent | $1,880 | $1,379 | 36.3% |
| M-o-M Change | -$19 | -$11 | 72.7% |
| Y-o-Y Change | $51 | -$14 | -464.3% |
| M-o-M % Change | -1.0% | -0.8% | - |
| Y-o-Y % Change | 2.8% | -1.0% | - |
Median Rent By Bedrooms In New Jersey
1-Bedroom
2-Bedroom
As you would expect, the median price for rent in New Jersey increases as the number of bedrooms in the unit increases. 1-Bedroom rent is the cheapest in New Jersey clocking in at $1,605, while a 2-bedroom rental will set you back $1,992 per month.
If you don't mind having roommates, the best option on a per room basis is a 2-bedroom rental for $996/room/month.
Read on to find out more or for more on New Jersey check out:
- Best Places To Live In New Jersey
- Cheapest Places To Live In New Jersey
- Most Dangerous Cities In New Jersey
Month Over Month New Jersey Rent Statistics
M-o-M Increase
M-o-M Increase
New Jersey has experienced a -$19 change in rent over the past month going from $1,899 to $1,880. That change comes out to -1.0%.
For reference, the US national average rent changed -$11 in the past month or -0.8%.
Here's a look at the month over month change for each month since 2017 for New Jersey:
Year Over Year New Jersey Rent Statistics
Y-o-Y Increase
Y-o-Y Increase
Over the past year, the average rent in New Jersey changed $51 from $1,829 to $1,880. A change of $51 means that rents changed 2.8% in a year.
That compares to the US national change of -$14 in the past year or -1.0%.
Here's a look at the year over year change by month since 2017 for New Jersey:
The 10 Places With The Highest Rent In New Jersey
Population: 5,435
Median Rent: $3,401
More on Englewood Cliffs: Data | Crime | Cost Of Living | Real Estate
Population: 5,031
Median Rent: $3,367
More on Demarest: Data | Crime | Real Estate
Population: 7,648
Median Rent: $2,897
More on Fanwood: Data | Crime | Cost Of Living | Real Estate
Population: 6,874
Median Rent: $2,772
More on Rumson: Data | Crime | Cost Of Living | Real Estate
Population: 8,339
Median Rent: $2,610
More on Upper Saddle River: Data | Crime | Cost Of Living | Real Estate
Population: 10,953
Median Rent: $2,551
More on Franklin Lakes: Data | Crime | Cost Of Living | Real Estate
Population: 11,792
Median Rent: $2,461
More on Florham Park: Data | Crime | Cost Of Living | Real Estate
Population: 12,165
Median Rent: $2,426
More on Edgewater: Data | Crime | Cost Of Living | Real Estate
Population: 5,917
Median Rent: $2,411
More on Little Silver: Data | Crime | Cost Of Living | Real Estate
Population: 5,907
Median Rent: $2,400
More on Roseland: Data | Crime | Cost Of Living | Real Estate
Learn More About Living In New Jersey
About Chris Kolmar
Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.
He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.
If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.
You can find out more about him on LinkedIn.